The Taiwan dollar firmed on Friday, rebounding from its lowest in more than a month in the previous session, as the US dollar weakened and after the central bank said the island's economy has bottomed out. The currency closed at T$32.925 against the US dollar, compared with the previous close of T$32.970.
Volume on the main Taipei Forex Inc exchange was light at $647 million, much lower than the $957 million a day earlier. "Trading was quite quiet today. The currency's rise was mainly helped by a weakening US dollar," said a dealer at a local bank. The Taiwan dollar was further supported by exporters' buying near the end of the month and the quarter to meet cash needs. Taiwan's central bank, which pushed the currency sharply lower the previous session.